A jockey could earn $350,000 for less than a minute’s racing when 12 of the world’s fastest sprinters compete in The Everest at Royal Randwick on Saturday.
That remarkable payday is just one part of the vast sums generated by the world’s richest turf race.
The October 17 feature carries a $20million prize pool, creating major financial rewards for trainers, stable staff, owners and the business figures who secure a place in the starting gates.
Even the horses that finish last will deliver their connections a share of $700,000.
According to The Sporting News, the winning horse earns $7million. However, the full amount does not go directly to the owner.
The published distribution shows $5.81million going to the slot holder and owner, with the trainer receiving $700,000 and the winning jockey taking $350,000.
The Everest features a $20million prize pool, and even the last-placed horse earns its connections $700,000. Pictured: attendees at the Australian Turf Club
The jockey who wins Saturday’s race will collect $350,000
The winning horse’s $7million prize is shared among its owner, slot holder, trainer, jockey and stable staff. Pictured, spectators cheer their horses at the Australian Turf Club
Stablehands will receive a further $140,000 in recognition of the behind-the-scenes work required to prepare the horse for the starting line.
The amount ultimately retained by the owner, however, is determined by a private agreement reached well before race day.
The Everest has an unusual structure: 12 slot holders each pay $700,000 for the right to enter a horse.
A slot holder can choose a horse from their own stable or negotiate with another sprinter’s connections to secure a runner.
As a result, having a fast horse does not guarantee a place in the field, just as owning a slot does not mean owning a horse.
The two parties negotiate the terms of their partnership, including how the prize money will be divided. No standard split applies.
An owner and a slot holder could therefore celebrate the same victory while taking home markedly different sums from the $5.81million allocated to them.
Those negotiations make the months leading up to the race a high-stakes contest in their own right, as slot holders assess form and trainers make the case for their horses.
Defending champion Ka Ying Rising (left) will pursue another lucrative victory at Royal Randwick on Saturday
Fashion, champagne and elite racing combine to make The Everest one of Sydney’s biggest spring events
For those who fall short of the winner’s prize, the consolation payments are still substantial.
Second place pays $2.9million overall, including $2.407million for the slot holder and owner, $290,000 for the trainer, $145,000 for the jockey and $58,000 for stablehands.
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Third place earns $2million, with the jockey’s share alone reaching $100,000. Fourth pays $1.5million, fifth returns $1.2million and sixth collects $950,000.
Every horse finishing seventh to 12th receives $700,000, including $581,000 for the slot holder and owner, $70,000 for the trainer, $35,000 for the jockey and $14,000 for stablehands.
Although that total matches the advertised cost of a slot, it does not mean a slot holder automatically gets their money back.
The purse is divided between several parties, and the slot holder’s return depends on their agreement with the horse’s owner.
There are also valuable trophies on top of the cash.
The owner’s trophy is valued at $625,000, while the winning trainer and jockey receive trophies worth about $52,500 each.
Glamorous outfits and trackside photos are as much a part of Everest Day as the action on the turf. Pictured, Gai and Kate Waterhouse, Duncan James and Tim Brimmer at the Everest Carnival in September 2025
Even runners finishing seventh to 12th earn $35,000 for their jockey and $70,000 for their trainer
For trainers, the financial rewards can extend well beyond a single afternoon.
Clayton Douglas, whose sprinter Giga Kick won the race in 2022, revealed in a documentary interview that the victory helped him buy a house.
His experience illustrates the significant financial impact the race can have on those involved in preparing its runners.
This year, defending champion Ka Ying Rising is set to chase another enormous payday for his connections, with David Hayes training and Zac Purton riding.
Last year’s runner-up Tempted is also in the field, trained by Ciaron Maher and ridden by Chad Schofield.
Behind those headline names sits a business operation that has helped The Everest grow from a $10million race at its launch in 2017 to today’s $20million spectacle.
The 12 slot fees generate $8.4million, making them a substantial contribution but insufficient to cover the prize pool alone.
Wagering revenue, sponsorship and the wider commercial appeal of the event help underpin its financial model.
For spectators, Saturday’s attraction is a 1,200-metre sprint featuring some of the nation’s top horses.
For those with a financial stake in its runners, it is the moment months of preparation and private negotiations are translated into prize money.
Away from the racing, spectators can enjoy pop-up bars, food outlets and interactive trackside attractions, including the Chandon Spritz Garden, Canadian Club Bar and TAB Green.
Fashion Stakes competitions add to the glamour, giving racegoers another reason to dress to impress.
After the final race, BRIT-nominated UK dance artist Nathan Dawe will keep the party going with an exclusive DJ set.
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